A very clear Head and Shoulders chart pattern has been presented on GBPJPY on the 4 hour timeframe. The daily closed with an evening star which suggests a bearish momentum.
The entry is really close so a sell limit pending order is a great way not to miss the trade. The stop loss is really tight as well.
The news of this afternoon could push the price heavily to the downside and could reach the target in a few days.
This setup is my opinion and the analysis has an educational purpose only.
The entry is really close so a sell limit pending order is a great way not to miss the trade. The stop loss is really tight as well.
The news of this afternoon could push the price heavily to the downside and could reach the target in a few days.
This setup is my opinion and the analysis has an educational purpose only.